Now that Silverlight 1.0 is out the door, my team is cranking hard on our Silverlight 1.1 release. 

Silverlight 1.1 will include a cross-platform version of the .NET Framework, and will enable a rich .NET development experience in the browser.  It will support a WPF programming model for UI - including support for an extensible control model, layout management, data-binding, control skinning, and a rich set of built-in controls.  It will also include a subset of the full .NET Framework base class library you use today, including support for collections, generics, IO, threading, globalization, networking (including sockets, web-services and REST support), HTML DOM, XML, local storage, and LINQ. 

You'll be able to use any .NET language to develop a Silverlight application (VB, C#, JavaScript, Python, Ruby, Pascal, and more).  It is going to really open up a lot of new development opportunities.